Photo via Flickr cc
If you’ve ever applied for affordable housing in New York City, you’ll know that it is all about the area median income, or the AMI. If you make too little or too much, you won’t qualify at all for affordable housing. Even if you do qualify, however, your AMI will impact your likelihood of actually acquiring a unit since most buildings have more units available in some AMI bands than others. For most New Yorkers, this is one of the most confusing aspects of affordable housing, so we’ve broken it down, from how AMI is calculated and what the current NYC parameters are to the many controversies surrounding the guidelines.
Everything you need to know
Photo via Flickr cc
One of the most distinctive architectural features of New York City buildings is their water towers. Many New Yorkers assume these towers are a relic of another era—a time when people did store water in wooden barrels. In fact, nearly all of the city’s wooden water towers are still in use, and many are newer than one might expect. If a building is actually following city guidelines, their water tower should be no more than three decades old. Unfortunately, compliance is an ongoing problem when it comes to water tower inspections and maintenance. In fact, many of the city’s charming water towers aren’t so charming when you take a look inside the barrel.
Everything you need to know
Photo via CityRealty
Foreign nationals from around the world are recruited to work in New York City, but when they arrive, they often realize that not everyone is eager to welcome them with open arms nor open doors. Indeed, while many employers from banks and tech companies to museums and universities are eager to recruit top global talent, most of the city’s rental management companies would prefer to rent to a pack of college students than a fully employed foreign national with a six-figure income.
So, what is an adult with a great credit history, full-time job, and in many cases, a family to do when they arrive in New York City? While foreign nationals likely can’t change the perception that renting to foreigners is a bad idea, there are a few ways to troubleshoot the housing market in New York City whether you were born in Toronto, Paris, or Tokyo.
Everything you need to know, here
NYC skyline via Pexels; Bitcoin via Pexels
Just when you think you understand the world of cryptos, all you understand is how little you know. And when you do actually master a topic, it will change. Which is why to get you started, we’ve put together a 101 guide to cryptocurrencies and real estate transactions. From the technology behind digital currencies such as Bitcoin to their risks, the real estate market is ripe for potential when it comes to this burgeoning market.
Get your primer ahead
Image via Pexels
Whether you’re baking pies for sale, taking care of children and pets, or setting up an apiary on the roof of your loft with hopes of selling your own honey at a local farmer’s market, running a home business in New York City is a complex affair. There are many circumstances under which home businesses are legal, but don’t take anything for granted. There are myriad city and state regulations to navigate. If you’re caught running an illegal home business or simply a business that is not fully in compliance, you may find yourself without a source of income, facing eviction, and owing high fines.
Everything you need to know about operating a home business in NYC
Photo via Pixabay
January is a busy month for renters across the U.S., described by one broker as the “oasis month” in an otherwise dead stretch between October and the spring. People make big life-changing decisions at the New Year, which often means moving – plus there’s the backlog of renters who put off sorting their living situation over the holiday season who are all entering the market at once in the first week of January.
New York’s rental market is estimated to be worth over $700 million in rent and over $44 million in deposits in January alone. With so much money changing hands, it means renters are an attractive target for scammers and fraudsters. Thankfully, rental fraud is rare, but a little knowledge goes a long way. So if you’re entering the rental market after the holidays, here are three things you can do to keep yourself (and your money) safe.
Whether you’ve just been offered a dream job in Austin or decided to ditch New York City for a farmhouse in New Paltz, if you have a lease, you have problem. Leases are generally a good thing: They give tenants the right to stay in an apartment on a year to year or even bi-annual basis. If you need to vacate early, however, a lease can quickly start to feel like vice grip on your future. Fortunately, tenants, at least those living in rental buildings, do have some legal ways to opt out early. This guide outlines the ins and outs of lease breaking, how to find a qualified tenant, and what to do if you are currently renting in a condominium or co-op where lease breaking is a far more complex process.
Everything you need to know, right here
In New York City, where buying and selling real estate is a high-stakes endeavor, the topic of historic and landmark designation is frequently raised. There are heated discussions on the subject of listing neighborhoods or buildings on the State and National Register of Historic Places or having them designated by the city’s Landmarks Preservation Commission. It’s important to know what those organizations do and the distinctions between them. You could even be eligible for significant financial aid for your renovations if you own property in an historic district.
Find out what these designations mean, how you could benefit from them and why they’re sometimes controversial.
Doorman at the Sherry-Netherland Hotel. Image Steven Pisano/flickr
Every December, building staff across the city leave seasonal cards under residents’ doors. If you’re new to life in a full-service building, don’t be fooled—this card is not simply a chance for staff to extend holiday cheer to you and your family. These cards, which usually arrive in the first week of December and list the names and years of seniority of all building staff, are the first reminder that it is tipping season. While no one is obliged to tip, whether you’re a renter or owner, choosing not to tip is discouraged.
Ahead we go over everything you need to know about tipping, including the economics of it all, when to leave it, how much to give, protocols for renters versus owners, how to present your tip, and what not to give.
A COMPLETE GUIDE FOR TIPPING AT CITYREALTY….
In October, city officials unveiled plans to rezone a large swath of East Harlem. The major thrust of the rezoning initiative is to bring more high-rise buildings to a corridor running several blocks along Park, Second, and Third avenues. By building up, city officials hope the neighborhood will increase its housing stock, including its affordable housing stock. In the long term, the proposed rezoning will also radically reshape the East Harlem’s appearance and street life, turning it from a mostly low-rise to high-rise neighborhood. What is about to happen to East Harlem, however, is a familiar story. Since 1916, when New York passed its first zoning resolution, the city has been profoundly shaped by zoning regulations.
MORE ON THE HISTORY OF ZONING AT CITYREALTY…